tag:blogger.com,1999:blog-12265028.post366725948347012766..comments2024-03-28T06:16:03.231-07:00Comments on China Matters: Gold DiggingUnknownnoreply@blogger.comBlogger2125tag:blogger.com,1999:blog-12265028.post-84688257942640939272007-04-18T11:02:00.000-07:002007-04-18T11:02:00.000-07:00Good point. I think the tactics--and arguments--v...Good point. I think the tactics--and arguments--vis a vis North Korea have direct parallels in Iran policy. <BR/><BR/>An outsider can't speak authoritatively about the effectiveness of US financial warfare, but I think there's a certain amount of psyops by the Bush administration, overselling by Treasury, and lip service by our allies/victims in Europe and Asia. <BR/><BR/>Despite US protestations, I think financial policy follows diplomacy and politics, not the other way around. Nations decide their policies based on their interests, and aren't driven to adopt certain policies because of coercive US financial policies. Patriot Act Section 311 are an irritating inconvenience and not a US super-weapon. <BR/><BR/>That said, it might be the case that the Bush administration wants to keep PA Section 311 investigations in its anti-Iran arsenal and not give European banks and governments an excuse to go wobbly, and that's why it hasn't taken the seemingly logical and sensible step of overturning them in the BDA case. <BR/><BR/>US North Korean diplomacy is now ridiculous, but it's a sideshow to the main event in the Middle East.<BR/><BR/>Thanks again for your comment.China Handhttps://www.blogger.com/profile/07137884672692120783noreply@blogger.comtag:blogger.com,1999:blog-12265028.post-26017386093382496132007-04-18T09:40:00.000-07:002007-04-18T09:40:00.000-07:00I wonder what this will mean in regards to the fin...I wonder what this will mean in regards to the financial sanctions taken against Iranian banks, Bank Sepah, here's an interesting article on FOX news of all places.<BR/><BR/>“Bank Sepah is a state-owned bank in Iran that we believe is the prime financier of the Iranian missile procurement program,” Deputy Treasury Secretary Robert Kimmet told FOX News. “The U.S. recently took action against Bank Sepah, cutting off its ability to do any transactions with banks in the United States because of its involvement in the missile technology acquisition program — not just in Iran, but through branches that operate through the world, most notably through the Bank Sepah branch in Rome.”<BR/><BR/>Iran does not seem very concerned about the sanctions against Bank Sepah maybe because they are much more integrated into the banking world ? see for example this article <BR/>http://www.arabianbusiness.com/index.php?option=com_pressreleases&view=detail&Itemid=77&pr_id=3942<BR/><BR/>AUB also entered into a joint venture in 2004 with Bank Melli Iran and Bank Saderat Iran to form Future Bank BSC (c), a joint venture commercial bank in the Kingdom of Bahrain, with an equal one-third shareholding.<BR/><BR/>hmm 2/3 owned by Iranian banks 1/3 owned by a Bahrain bank.Asadhttps://www.blogger.com/profile/09540705462902596122noreply@blogger.com